Overseas Vietnamese workers to send home $1.8 bln: ministry

Vietnamese laborers working abroad are expected to send home some $1.8 billion by the year-end, said Overseas Labor Management Department under the Ministry of Labor, War Invalids and Social Affairs.

They sent back $1 billion worth of inward remittance to the country in the first six months of this year, said the department.

The agency forecasts there would be about $10 billion of overseas remittances to be transferred to the country by overseas laborers in 2011-2015.

Though the total amount of money sent home by Vietnamese workers are still small compared to that in some other countries which is even higher than the foreign direct investment (FDI) capital, international aids and higher than the export turnover of some key items, it has help significantly improve the poverty and promote investments, said the department’s spokesperson.

The country has sent over 60,530 Vietnamese laborers to other countries this year. Most of who are working in Taiwan, Korea and Malaysia with 23,673 workers, 14,134 workers and 6,664 workers respectively.

Source Tuoitrenews

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial, Vietnam remittance

Posted by VBN on Sep 13 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry